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Suppose a worker is making $50,000 per year in 1992. In 2022 they are making $100,000 per year. Has their nominal income gone up or

Suppose a worker is making $50,000 per year in 1992. In 2022 they are making $100,000 per year. Has their nominal income gone up or down? By how much? Has their real income gone up or down? By how much

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